With a surge in the popularity of short-form video and expansion in the creative economy as a whole, India currently has at least 8 crore creators and knowledge workers, but only 1.5 lakh of them can effectively monetize their work, according to a recent study.
Earning as Professional Content Creators
The majority of the 1.5 lakh professional content creators make between $200 and 2,500 (more than Rs 16,000 to Rs 200,000) per month, depending on the reach and engagement they can generate on the various platforms.
Based on a survey by Kalaari Capital, an early-stage, technology-focused venture capital business, less than 1% of them (those with over 1 million followers) have the potential to make anywhere between $2,500 and $65,000 (more than Rs 53 lakh) every month.
Very few of these rising stars make more than Rs 82 lakh a month, or about $100,000. According to the survey, there are 50,000 professional creators on regional short-form video platforms in India, and more than 60% of their audience is located outside of major cities, with regional content driving consumption.
The research revealed that these people could approach their admirers directly and amass a sizable audience thanks to social media networks. Although they found solutions for distribution and produced breakout stars, very few of the professionals were able to monetize successfully.
According to the report, despite the rise and increased influence of creators over the past ten years, their money has not been distributed fairly. It was noted that while social media networks helped creators be more discoverable, the majority of the wealth they generated was taken by the sites themselves.
Creators and Products
Most of these people are new internet users who choose the items and materials they consume for themselves. They place high importance on uniqueness and authenticity and have developed a stronger affinity for creators than companies.
These changes have paved the way for the emergence of creators and knowledge workers who have taken advantage of modern tools and connected technology to turn their special talents into full-time income.
Content producers, video streamers, influencers, bloggers, OTT platform providers, physical product manufacturers, and practically anyone creating a community around their specialization are all included in India’s 8 crore creators.
According to the report, the creators will now “own” the relationship with their fans and clients in the next phase of the creator economy. A whole ecosystem of creator tools and platforms will emerge, enabling them to operate as a tiny business unto themselves. They will develop direct monetization channels with their followers.
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